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A couple borrows $200,000 for a mortgage that requires fixed monthly payments over 30 consecutive years. The first monthly payment is due in one month.

A couple borrows $200,000 for a mortgage that requires fixed monthly payments over 30 consecutive years. The first monthly payment is due in one month. If the interest rate on the mortgage is 8%, which of the following comes closest to the monthly payments?

a.) $1468

b. $1765

c. $1454

d. $1482

e. $1381

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